Nationwide end free foreign transaction

Whilst other cards charge around 2-3%, Nationwide has never passed this on. From 6 May, they will.

quote:The fee is currently 0.84%. From 1 July 2009 this fee will increase to 1%.

Link here.

So still less than other cards at least.

Thomas Cook seem to be changing their terms too, so wouldn't be surprised if the Post Office and Abbey Zero follow.

quote:Originally posted by locutus
Whilst other cards charge around 2-3%, Nationwide has never passed this on. From 6 May, they will.

quote:The fee is currently 0.84%. From 1 July 2009 this fee will increase to 1%.

Link here.

So still less than other cards at least.

Thomas Cook seem to be changing their terms too, so wouldn't be surprised if the Post Office and Abbey Zero follow.


Not surprising in the current economic debacle I suppose, and still less than the bulk of the other card issuers. I've got a PO MC so we'll see if they follow suit (which no doubt they will) [:(].

I've got the PO MC too - hope they don't follow suit (or at least not for about 11 weeks so I can get my Florida spending on it commission free!).

James

Is there an actual additional cost to the provider for overseas transactions?
Or is this charge just an excuse to wack a Ryanair style addition to the customer?

[Darren Wheeler]

As in the ads, that'll pay for the fizz at the shareholders meeting.

[RichardMannion]

quote:Originally posted by Darren Wheeler
As in the ads, that'll pay for the fizz at the shareholders meeting.


Quite possibly up there as one of most ill-conceived ad campaigns of all time.

quote:Originally posted by northernhenry
Is there an actual additional cost to the provider for overseas transactions?
Or is this charge just an excuse to wack a Ryanair style addition to the customer?


Nationwide do say Visa are increasing the fee, and Nationwide are going to be passing on the full cost (1%) where they previously absorbed it.

quote:Originally posted by Darren Wheeler
As in the ads, that'll pay for the fizz at the shareholders meeting.


Remembering that Nationwide - despite the attempts of carpetbagging muppets - remains a mutual building society owned by its members so doesn't have the same business model and drivers as say Royal Bank of Fred Goodwin...